In 2023, the yogurt powder market is anticipated to reach a value of US$ 274.3 million. According to Future Market Insights, the market could grow at a 7.5% CAGR between 2023 and 2033. Yogurt powder is a preferred option due to its high nutritional value and probiotic benefits. The market is therefore expected to reach US$ 535.4 million by 2033.
The yogurt powder market has been witnessing significant growth lately. Main market-driving factors include the rising demand for convenience food products that are easy to prepare and consume on the go. Furthermore, there is a growing market for functional food products as a result of consumers’ increased health concerns.
As consumers embrace vegetarian diets, the appeal of plant-based food products is another key factor driving the market. Demand for dairy-free yogurt powder is also growing since the popularity of the vegan diet is hitting the roof. Manufacturers that want to develop innovative and healthy plant-based products often opt for yogurt powder owing to its versatility and compatibility with different plant-based components.
The rising demand for yogurt powdered milk is another factor boosting the yogurt powder market. As yogurt powdered milk is easier to store and transport than regular liquid yogurt, it makes a practical substitution. The primary forces behind this trend are the expanding desire for protein sources made from dairy and the rising demand for dairy products with longer shelf lives.
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Bakeries and confectionery makers are increasingly using yogurt-based powder as a result of growing customer awareness of the negative consequences of high sugar content, artificial colors, chemicals, and preservatives. In addition, the product has a longer shelf life than fresh yogurt, which is advantageous for bakeries and confectionery producers since it reduces wastage.
According to the shifting food trends, people are choosing meals that support their active lifestyles. Yogurt powder demand is being driven by consumers’ willingness to pay more for products with clean labels. Due to customers’ shifting food consumption habits as a result of rapid urbanization, the demand for skimmed milk yogurt powder has increased in emerging economies.
The yogurt powder market is dominated by Europe, then North America. While few individuals still consume conventional yogurt and are less aware of the advantages of yogurt powder, individuals in certain emerging countries still do. Given the increasing need for dairy products, the yogurt powder market could expand in nations like China.
KEY TAKEAWAYS
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 18% through 2033.
- The United States is expected to develop at a 7.4% CAGR during the forecast period.
- With a CAGR of 7.7% over the forecast period, Spain is predicted to develop promptly in the market.
- In China, the market is expected to proliferate, registering a CAGR of 7.3% over the forecast period.
- Germany is estimated to grow decently registering a CAGR of 8.6% until 2033.
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COMPETITIVE LANDSCAPE
Key players in the yogurt powder market are Bluegrass Dairy & Food, Inc., Glanbia PLC, Epi Ingredients SAS, Bayerische Milchindustrie eG, BALTIMA Sp. z o.o., Armor Protéines, Döhler Dahlenburg, C.P. Ingredients Ltd, Dr. Suwelack, Kerry Group, Biogrowing, PreGel AMERICA, Inc., ACE International LLP, Ballantyne, Bempresa Ltd., and others.
These market players are concentrating on product innovation to fulfill the shifting consumer demand for convenient and wholesome snack choices. To draw customers, several businesses are releasing fresh yogurt powder products with distinctive flavors, formulations, and packaging. They are also collaborating with distributors and suppliers to broaden their market and boost sales. Certain manufacturers are looking at the market potential in the plant-based and vegan yogurt powder segment, while others are investing in research and development to increase the nutritional content and shelf life of their products.
RECENT DEVELOPMENTS
- Yogurt powders were developed by Bluegrass Dairy & Food, Inc. to offer the same enlivening health and wellness benefits as regular yogurt. The company also released non-dairy plant-based powders. A wide range of product lines is complemented by its plant-based powders, which provide everything from a virtually comparable substitute to an earthy, all-natural snack.
- Bempresa Ltd. released Optimo Yogurt Powder. Optimo Yogurt Powder is created using cutting-edge technical techniques, maintaining all the properties of yogurt powder while having lower production costs. As a result, it becomes a highly cost-effective and high-quality substitute for products like cakes, candies, and bread.
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Yogurt Powder Market by Category
Product type:
- Skimmed Yogurt Powder
- Semi-Skimmed Yogurt Powder
- Whole Yogurt Powder
Nature:
- Organic
- Conventional
Flavor:
- Regular
- Flavored
- Berries
- Vanilla
- Chocolate
- Peach
- Mango
- Banana
- Apple
- Others (Passion Fruit, Blends)
Application:
- Food Industry
- Dips and Dressings
- Fillings
- Bakery
- Nutrition and Snack Bar
- Desserts
- Frozen Novelties
- Dry Mixes
- Others (Meat Products, Cereals)
- Beverages
- Cosmetics and Personal Care
End Use:
- Household
- HoReCa
- Industrial
- Food and Beverage Processors
- Cosmetic Manufacturers
Distribution Channel:
- B2B
- B2C
- Store-Based Retail
- Modern Grocery Retailers
- Hypermarkets/Supermarkets
- Convenience Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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